September Current Account Surplus Hits Record $61.4 Billion

South Korea's September current account surplus (the difference between money earned and spent in external transactions) exceeded $60 billion for the first time on record, hitting an all-time high of $61.46 billion. This means export earnings far outpaced spending, thanks to robust exports of semiconductors and other IT products.

According to preliminary balance of payments figures released by the Bank of Korea on the 5th, both the goods account surplus and export values also set new record highs. The cumulative current account surplus for January through September this year reached $340.66 billion, confirming that not only monthly records but also the cumulative surplus has expanded significantly.

The Bank of Korea forecast this year's annual current account surplus at $450 billion. On the 5th, export containers were stacked at Pyeongtaek Port in Gyeonggi Province.